Ukraine needs $65 billion in financing, but most of the money is still in question

Ukraine plans to attract about $65 billion in external financing for 2026–2027. At the same time, almost two-thirds of this amount currently has no confirmed sources.

This was announced by First Deputy Chairman of the National Bank of Ukraine Serhiy Nikolaychuk in an interview with Interfax-Ukraine.

According to him, the need for financing is distributed as follows: about $35 billion for 2026 and $30 billion for 2027. This estimate is slightly higher than the government’s forecast, but reflects the country’s real needs in the context of the ongoing war and reconstruction.

Nikolaychuk stressed that there is currently a significant funding gap, which is about two-thirds of the total need. Finance Minister Serhiy Marchenko previously put the unfilled gap at $37 billion for two years.

At the same time, according to Nikolaychuk, if we consider the needs for 2026 separately, they amount to about $45 billion, part of which will be covered by the reserves formed from international assistance received in 2025 and confirmed sources of funding.

Experts emphasize that successfully closing the financial “hole” is critically important for the stability of Ukraine’s economy, ensuring the defense budget, and restoring infrastructure after the war.

As a reminder, as of August 1, Ukraine’s international reserves amounted to $43.03 billion, which is 4.5% less than a month earlier.

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